Northridge, CA, June 06, 2018 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; "Crednology").
- Over the last two weeks Crednology provided limited details about the financing of the acquisition of the business of Evolve Partners due to the confidential requirements of the transaction. We are now able to provide those details.
- The acquisition was financed personally by Mr. Orie Rechtman, our CEO. Mr. Rechtman loaned the Company $65,000 at 10% per annum with payments of $4,000 per month for eighteen months.
Orie Rechtman, CEO of Crednology Holding Corp. stated: “I fully believe in our business and our future growth potential and that is why I was willing to invest my own money to purchase this business. The Evolve business was an important acquisition as it enables us to spread more business over our current resources. This is resulting in economies of scale with the potential for more business from the current client base and prior clients of Evolve. We continue to evaluate other potential acquisitions and will provide more details as they become available. Our primary objectives continue to be positive growth of the business expanding our footprint in both new territories and industries in the US while continuing to improve shareholder value.”
About Crednology Holding Corp.
Crednology Holding Corp, a Delaware corporation, is a public holding company that has been dedicated to enhancing shareholder value through a strategic combination of organic growth, mergers and profitable acquisitions.
The Company is engaged in the cloud computing segment of the technology sector as well as the Electronic Waste and Recycling business. The main products and services include cloud computing and virtual environment, disaster recovery and business continuity and managed services to corporate accounts as well as the recycling and disposal of E-Waste and other materials.
Essentially cloud computing is a way to save and/or access data from remote servers. The company’s Private Cloud solution provides fully working environment through our data centers located around the USA as well as real time redundancy and replication of the client’s data which will eliminate loss of data and minimize down time close to zero. Cloud computing is growing at a staggering pace. The industry is experiencing rapid growth with the cloud segment of business achieving a growth of over 20% per annum. E-Waste is also growing at a significant pace with double digit increases anticipated annually over the next few years.
Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statement are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company's statements and reports filed with the OTC Markets. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.